Edge Security Market is Anticipated to Soar High at 21.5% CAGR through 2031
WESTFORD, MASSACHUSETTS, UNITED STATES, June 26, 2024 /EINPresswire.com/ -- Edge Security Market size was valued at USD 19.30 Billion in 2022 and is expected to grow from USD 23.45 Billion in 2023 to reach USD 111.36 Billion by 2031, at a CAGR of 21.5% during the forecast period (2024-2031).
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Edge protection provides protection for resources beyond the limits of traditional networks. The fastest growing needs come from edge computing for the Internet of Things (IoT) such as fitness bands, self-driving cars and retail point-of-sale (POS) registers but also remote workers, cloud computing networks, smart industrial pumps, temperature sensors and industrial control systems (ICS). Similar safeguards are needed for operational technology (OT).
Internet devices are gaining ground in various industries, including manufacturing, healthcare, transportation and smart cities. Devices generate large amounts of data and require strong security measures at the edges to protect against cyber threats.
The attack space for cyber threats is expanding, as more devices and endpoints are connected. Edge security solutions are essential to protect against various cyberattacks such as malware, ransomware, DDoS attacks and data breaches.
Looking ahead over the forecast period from 2024 to 2031, this market is anticipated to grow significantly. The attack space for cyber threats is expanding, as more devices and endpoints are connected. Edge security solutions are essential to protect against various cyberattacks such as malware, ransomware, DDoS attacks and data breaches.
Accelerated AI Integration in Edge Security Over Next 4-5 Years or 10 Years
The following are the key Edge Security Trends that will shape the growth of the market in the next 5 years
Enhanced Risk Identification and Response
By leveraging data locally and in real-time, edge devices can quickly identify and mitigate threats, reducing the risk of breaches and ensuring up-time respond quickly. Combining AI and machine learning at the edge will transform threat detection and response.
As data privacy laws become more stringent around the world, edge security solutions will need to ensure compliance with local laws while maintaining strong security measures. Autonomous security systems powered by AI can anticipate and counter strong threats without human intervention, making edge networks more resilient.
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Expansion of the Edge Security Market
As these communities invest in digital infrastructure, the demand for cost-effective local security technologies will increase. Edge security solutions are expected to grow significantly in emerging markets, particularly in Asia-Pacific, the Americas and Africa.
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Latest Headlines and Developments in Edge Security
In 2022, Deutsche Telekom, an integrated telecommunications company, introduced a managed and secure service in partnership with Palo Alto Networks. Zero trust network access, as an integral part of the SSE strategy, will be provided through this partnership to ensure consistent and efficient access to service-based or service-oriented applications.
In January 2022, Juniper Networks unveiled a new version of its Secure Access Service Edge Architecture. This solution was designed to give businesses the ability to protect employees through a Firewall-as-a-Service software infrastructure. This strategy enabled the company to strengthen its presence and expand its customer base in the market.
The main use case for edge computing is to improve service delivery by IoT devices. Most IoT devices lack multiprocessing power and security features. This makes many access points to the river extremely flexible, further enhanced by the phenomenal development of IoT devices. Unfortunately, these devices are not always adequately protected by organizations that develop IoT devices. Thus, to protect networks affected by insecure IoT devices, organizations must take responsibility. The basics outlined above are important for organizations to ensure the security of their networks.
Related Report:
Cyber Security Market
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